Why do nations engage in international trade?

What will be an ideal response?

Nations engage in international trade because they gain from trade. International trade results in a more efficient use of resources and thereby increases world output. As a result, it increases the amount of goods and services available for consumption in all nations and thereby makes all countries better off.

Economics

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Explain why cable television is not a pure private good

What will be an ideal response?

Economics

If input prices increase, the supply curve for cheese will shift to the right

a. True b. False Indicate whether the statement is true or false

Economics